What implementation of Goods and Services Tax means
India has moved a step closer to implementing an overarching Goods and
Services Tax (GST) with the Centre and states agreeing on its broad
contours. Here's what it means -
India has moved a step closer to implementing an overarching Goods and Services Tax (GST) with the Centre and states agreeing on its broad contours. This will simplify the tax structure, broaden the tax base, and create a common market across states, boosting both growth and employment.
Graphic by Santosh Kushwaha
Source: Ernst & Young, NCAER, Thirteenth Finance Commission, BT Research
Graphic by Santosh Kushwaha
Source: Ernst & Young, NCAER, Thirteenth Finance Commission, BT Research
Imports will rise between 2.4 and 4.7 per cent with values rising between USD 3.6 bn and USD 6.9 bn
Total CST arrears: Rs 34,000 crore
